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Flex Space Category (Coworking Category)

Coworking spaces can be classified into several categories based on the quality of amenities, services provided, and overall environment.

Here are the typical classifications: Premium, Upscale, Midscale, and Economy.

These categories can also be assigned automatically based on their Average Revenue per Member (ARPM) relative to other spaces in their geographic proximity.

Please note that every coworking space is truly unique. They have unique locations, communities, amenities, vibes, moods, etc. So, it’s very hard to put a coworking space into a box. However, a basic classification can help the industry move forward and attract bigger corporate customers.

1. Premium Coworking Spaces

Premium coworking spaces offer the highest amenities, services, and environment. These spaces are designed to cater to top-tier professionals, high-level executives, and established businesses looking for a prestigious and luxurious work environment. Premium coworking spaces’ may feature:

  • Prime locations in major business districts.
  • High-end furnishings and office equipment.
  • Comprehensive concierge and administrative services.
  • Access to exclusive amenities like rooftop terraces, wellness centers, and gourmet kitchens.
  • Advanced technological infrastructure, including high-speed internet, state-of-the-art conference rooms, and video conferencing facilities.
  • Private offices and executive suites with customization options.

2. Upscale Coworking Spaces

Upscale coworking spaces provide a luxurious and professional environment, though slightly less exclusive than premium spaces. They are ideal for businesses and professionals seeking a high-quality workspace with extensive amenities. Some of the Upscale coworking spaces’ features include:

  • Locations in desirable business areas.
  • Elegant furnishings and well-designed interiors.
  • Professional reception and administrative support.
  • A variety of meeting rooms and event spaces.
  • Access to amenities such as fitness centers, cafes, and comfortable lounges.
  • High-speed internet and modern office equipment.
  • Private offices and dedicated desks.

3. Midscale Coworking Spaces

Midscale coworking spaces balance cost and amenities, offering a comfortable and productive work environment for freelancers, startups, and small businesses. Midcale spaces are:

  • Convenient locations in both city centers and suburban areas.
  • Functional and aesthetically pleasing furnishings.
  • Basic reception and administrative services.
  • Several meeting rooms and communal areas.
  • Essential amenities such as coffee bars, kitchen facilities, and break areas.
  • Reliable high-speed internet and necessary office equipment.
  • A mix of open workspaces, private offices, and dedicated desks.

4. Economy Coworking Spaces

Economy coworking spaces focus on providing affordable workspaces with essential amenities. They are ideal for freelancers, remote workers, and startups on a tight budget. Some of the characteristics of the economy coworking spaces include:

  • Accessible locations, often in less central areas.
  • Simple and functional furnishings.
  • Limited reception and administrative services.
  • Basic meeting rooms and communal spaces.
  • Essential amenities such as coffee stations and shared kitchens.
  • Standard high-speed internet and basic office equipment.
  • Predominantly open workspaces with hot desks and a few private offices.

Discussion

Classifying coworking spaces is hard due to their unique nature. Every single coworking space is truly unique. They have unique locations, communities, amenities, vibes, moods, etc. However, a basic classification can help the industry move forward and attract bigger corporate customers.

For example, classifying coworking spaces into Premium, Upscale, Midscale, and Economy categories helps businesses and professionals choose the right environment based on their needs and budget.

Premium and Upscale spaces offer luxurious and comprehensive amenities for those seeking a high-end workspace. In contrast, Midscale and Economy spaces provide more affordable options without compromising essential services and a productive environment.

Example

For example, if your monthly ARPM is $500 and the average ARPM in your region is $350, your space will be classified as Upscale or Premium.

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